SPI Primary & Weekly Cycles
Extremely bearish on the Australian Market.
It's consolidating below the 2020 lows, has retested the Monthly 50% levels in April and I have the expectation that it will try and move down towards the Monthly lows (B)
We now have the Weekly channels converging into each other, and it now looks like it wants to POP, but not on the upside.
Those monthly lows (B) is where to you to be buying again, but it's still and BUY and GET OUT, because of the view it's going lower into 2021.
The only thing propping up the Markets is the US FED, pumping the tyres of the US markets, but the state of the economy will soon catch up and those US Markets will soon move to the DOWNSIDE also.
